Obamacare: A Second Fiscal Cliff

AND “REPUBLICANS” AREN’T DOING ANYTHING TO STOP IT

One way or the other, the American economy will be saddled with massive tax hikes in 2013 as elected officials of both parties in Washington, D.C. refuse to rein in their addiction to deficit spending.

But even if by some miracle the tax hikes associated with the so-called “fiscal cliff” are averted, an estimated $25 billion worth of tax hikes associated with U.S. President Barack Obama’s new socialized medicine law are set to kick in. Among them? A new 3.8 percent assessment on investment income for those making more than $200,000 a year. There’s also a new 1 percent increase on individual income above $200,000.

Astoundingly, the $800 billion GOP tax hike proposed by U.S. Speaker John Boehner made no effort to eliminate any of these tax hikes – which go to the very heart of American competitiveness and private sector innovation.

Seriously … have Republicans just given up?

What are they thinking?

The GOP was returned to the leadership of the U.S. House in 2010 because fiscal conservatives were willing to give the party another chance to demonstrate that it was capable of protecting freedom, free markets and the livelihoods of individual taxpayers.